Osteogenic growth peptide (OGP), which bears osteogenic effects, possesses a great potential in clinical use, and has been the focus of intense investigation worldwide. Both animal experiments in vivo and cellular experiments in vitro have demonstrated that OGP can increase bone density, accelerate fracture healing, promote osteogenic functions of osteoblasts, up-regulate expression of core binding factor alpha 1 and type I collagen mRNA, and stimulate proliferation and differentiation of bone marrow mesenchymal stem cells, finally leading to osteogenesis. The research progress of osteogenetic effects of OGP is reviewed in this paper.